(MENAFN- KNN India)
New Delhi, Jun 17 (KNN) The Indian startup ecosystem has experienced a substantial resurgence in fundraising activity this week, with startups collectively securing approximately USD 202 million across 21 deals.
This marks a notable increase of more than 100 per cent compared to the previous week's figures, which saw roughly USD 98 million raised through 10 deals.
Cleantech startups continued to dominate the funding landscape, with electric vehicle startup Battery Smart leading the pack.
The company successfully raised USD 65 million in a round led by LeapFrog Investments, with participation from both new and existing investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures, and British International Investment.
In the direct-to-consumer (D2C) sector, skincare firm Foxtale attracted USD 18 million in a funding round spearheaded by Singapore-based Panthera Growth Partners.
Similarly, beauty and makeup brand Renee Cosmetics secured Rs 100 crore (approximately USD 12 million) in a Series B round, primarily from existing investors Evolvence India and Edelweiss Group. This latest infusion of capital values Renee Cosmetics between Rs 1,200-1,400 crore.
In a significant development for the quick commerce sector, sources indicate that grocery delivery platform Zepto is poised to raise nearly USD 650 million from a combination of existing and new investors.
If successful, this funding round could elevate Zepto's valuation to around USD 3.5 billion, further intensifying competition with rival Blinkit.
Zepto has also expressed intentions to pursue an initial public offering (IPO) within the next two to three years.
This week's funding activity underscores the resilience and growing investor confidence in India's startup ecosystem, despite global economic uncertainties.
The diverse range of sectors attracting investment-from cleantech to beauty and quick commerce-highlights the multifaceted nature of India's entrepreneurial landscape.
(KNN Bureau)
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